Author Topic: $50k limit for loans?  (Read 2912 times)

DiligentiaLLC

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$50k limit for loans?
« on: June 18, 2012, 09:23:49 AM »
I noticed most banks offer unsecured loans and lines-of-credit up to $50k.  Why doesn't Lending Club or Prosper off a loan up to this amount? I wonder if they will in the future?  Anybody heard anything on this topic?

Peter

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Re: $50k limit for loans?
« Reply #1 on: June 19, 2012, 07:00:23 AM »
I noticed most banks offer unsecured loans and lines-of-credit up to $50k.  Why doesn't Lending Club or Prosper off a loan up to this amount? I wonder if they will in the future?  Anybody heard anything on this topic?

I think this is probably the number that LC and Prosper would like to get to and Lending Club may get there. They have little trouble funding the $35K loans so $50K would be a logical next step. But I wouldn't hold your breath because they need to establish the track record of these $35K loans that have only been around 18 months or so.

At Prosper they still only allow $25K and that is just for the best borrowers. I don't see them moving to $50K for a very long time.
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jwilliams

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Re: $50k limit for loans?
« Reply #2 on: January 13, 2013, 07:35:16 PM »
Can I reply Peter?